2020 2021 Projected benefit obligation, January 1 $570,000 Plan assets (fair value and market-related value), January 1 430,000 Pension asset/liability, January 1 140,000 Cr. Prior service cost, January 1 420,000 Service cost 70,000 $94,000 Settlement rate Expected rate of return 8 % 8 % 8 % 8 % Actual return on plan assets 60,000 54,000 Amortization of prior service cost 80,000 128,000 Annual contributions 80,000 100,000 Benefits paid retirees 56,000 65,000 Increase in projected benefit obligation due to changes in actuarial assumptions 137,000 0 Accumulated benefit obligation at December 31 450,000 538,000 Average service life of all employees 12 years Vested benefit obligation at December 31 291,000 Prepare a pension worksheet presenting both years 2020 and 2021. (Enter all amounts as positive.)